Saudi Arabia Withdraws From mBridge Digital Currency Platform After Planned

Saudi Arabia has withdrawn from mBridge, a China-led blockchain-powered digital currency platform designed to enable cross-border payments using central bank digital currencies, according to Coin Bureau, citing the Financial Times (FT).

Riyadh said it completed its planned trial of the platform in May 2025 before leaving the project. The development comes as mBridge has drawn attention for its potential to allow participating central banks to conduct cross-border payments using digital versions of their national currencies rather than relying on established dollar-based payment routes.

Saudi Arabia Ends Participation After 2025 Trial

According to the report cited by Coin Bureau, Saudi Arabia's participation in mBridge ended after the country completed a trial that concluded in May 2025.

The platform was developed to support cross-border transactions between central banks using digital currencies. Its blockchain-based infrastructure was designed to allow participating institutions to transfer value directly across borders, with the stated objective of improving the process for international payments.

Saudi Arabia's departure does not indicate that the country abandoned the technology after an unsuccessful test, based on the information provided. Riyadh has described its participation as a planned trial that was completed before the withdrawal.

The distinction is relevant because the decision to leave followed the completion of the stated testing period rather than an announcement that the platform itself had been discontinued.

mBridge and Cross-Border Digital Currency Payments

mBridge was designed around the use of central bank digital currencies, or CBDCs, for international transactions. The system seeks to provide participating central banks with infrastructure for transferring digital currencies across jurisdictions.

One of the potential consequences of such a system is reduced reliance on traditional payment routes that use the U.S. dollar as an intermediary. However, the Coin Bureau post and the Financial Times report do not establish that Saudi Arabia's withdrawal was motivated by an effort to reduce or increase reliance on dollar-based payment channels.

The platform's development has attracted international attention because of its connection to China and its focus on cross-border payments. Saudi Arabia's involvement had also placed the country within a broader group of jurisdictions examining blockchain-based infrastructure for central bank digital currencies.

No Wider Political Motive Cited for Exit

The timing of Saudi Arabia's withdrawal could invite broader interpretations of the decision, particularly given the strategic importance of international payment infrastructure.

However, a person familiar with the decision cautioned against reading a wider political motive into Saudi Arabia's exit, according to the information cited by Coin Bureau.

That account leaves the stated reason for the departure centered on the completion of the planned trial in May 2025. The available information does not establish that Saudi Arabia's decision represented a broader policy shift toward international payment systems or digital currencies.

The development therefore marks the end of Saudi Arabia's markets participation in the mBridge trial, while the platform's wider role in cross-border digital currency payments remains a separate issue.

Writer: Victoria Hale
Technology & Blockchain Writer

Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.

She prioritises clarity and accuracy when explaining technical developments to a general audience.